Oakbrook Investments LLC Reduces Position in A. O. Smith Corp (NYSE:AOS)
Oakbrook Investments LLC cut its holdings in shares of A. O. Smith Corp (NYSE:AOS) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,300 shares of the industrial products company’s stock after selling 1,960 shares during the quarter. Oakbrook Investments LLC’s holdings in A. O. Smith were worth $674,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AOS. Dimensional Fund Advisors LP lifted its holdings in shares of A. O. Smith by 20.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 851,154 shares of the industrial products company’s stock worth $36,346,000 after buying an additional 145,030 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of A. O. Smith by 30.4% in the fourth quarter. Bank of America Corp DE now owns 704,737 shares of the industrial products company’s stock worth $30,092,000 after buying an additional 164,237 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in shares of A. O. Smith in the fourth quarter worth about $303,000. Legal & General Group Plc lifted its holdings in shares of A. O. Smith by 16.4% in the fourth quarter. Legal & General Group Plc now owns 325,329 shares of the industrial products company’s stock worth $13,891,000 after buying an additional 45,825 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in shares of A. O. Smith by 10.2% in the fourth quarter. Macquarie Group Ltd. now owns 56,228 shares of the industrial products company’s stock worth $2,401,000 after buying an additional 5,211 shares in the last quarter. 74.64% of the stock is currently owned by institutional investors and hedge funds.
In other A. O. Smith news, Director Paul W. Jones sold 1,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $49.50, for a total transaction of $49,500.00. Following the transaction, the director now directly owns 182,266 shares in the company, valued at $9,022,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Paul R. Dana sold 9,010 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $52.76, for a total transaction of $475,367.60. Following the transaction, the vice president now owns 14,912 shares in the company, valued at $786,757.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,010 shares of company stock worth $944,468. 1.03% of the stock is owned by company insiders.
A. O. Smith (NYSE:AOS) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.04). The company had revenue of $748.20 million during the quarter, compared to the consensus estimate of $764.16 million. A. O. Smith had a return on equity of 25.01% and a net margin of 13.81%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. On average, research analysts anticipate that A. O. Smith Corp will post 2.67 EPS for the current fiscal year.
A. O. Smith declared that its Board of Directors has approved a share repurchase plan on Monday, June 3rd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Wednesday, July 31st will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Tuesday, July 30th. A. O. Smith’s dividend payout ratio (DPR) is 33.72%.
A number of equities research analysts have recently issued reports on AOS shares. Jefferies Financial Group increased their price target on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. Boenning Scattergood reissued a “hold” rating on shares of Peoples Bancorp in a report on Wednesday, May 1st. Edward Jones cut shares of A. O. Smith from a “buy” rating to a “hold” rating in a research report on Monday, May 20th. Zacks Investment Research cut shares of Hancock Jaffe Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, Robert W. Baird upped their price objective on shares of Cerner from $67.00 to $71.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. A. O. Smith has an average rating of “Hold” and an average target price of $54.25.
A. O. Smith Profile
A. O. Smith Corporation manufactures and markets residential and commercial gas and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; residential and commercial boilers for space heating applications in hospitals, schools, hotels, and other commercial buildings; and water treatment products, including on-the-go filtration bottles, point-of-use carbon and reverse osmosis products, point-of-entry water softeners, and whole-home water filtration products for residences, restaurants, hotels, and offices.
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